17.01.2017.

Now improved conditions for foreign travel and purchase insurance

Constantly developing Nordea banking services, already from 1 January we offer payment card holders improved conditions for purchase and foreign travel insurance, providing even greater comfort and feeling of safety in different life situations.

Having heard its customers' needs, Nordea continues to develop payment cards and the diversity of related benefits. Last November, Nordea started offering its customers the new payment card "Nordea Debit", which features a contactless payment facility. Whereas in December, the Nordea Card partners discount program became available to Nordea payment card holders in all Baltic countries. 2017 has started offering customers improved travel and purchase insurance conditions.

"A bank payment card in a way is the customer's best friend – it is always with you and is useful both for everyday purchases and when traveling. The improved conditions of travel and purchase insurance is an important benefit for our customers in a variety of situations - even unplanned," says Kitija Jansone, Card Issuing Product Manager at Nordea.

Changes to the purchase insurance policy

From 2017, the number of days the insurance is in force has been increased in the purchase insurance rules. Until now, purchase insurance was in force for 60 days from the date the purchases were made. Whereas in 2017, for purchases above EUR 100 the purchase insurance will be in force:

90 days for purchases paid for with Nordea Debit, Nordea Credit and Nordea Gold,

180 days for purchases paid for with Nordea Platinum.

Changes to the travel insurance policy:

the sum insured under the Gold insurance policy (for Nordea Gold cardholders) for treatment costs, illness or accidents when traveling is now increased from EUR 75,000 to EUR 500,000,

in the Gold and Platinum (for Nordea Gold and Nordea Platinum cardholders) insurance policies the term "card holder's spouse/partner" has been clarified, but the term - "civil marriage partner" has been removed. Upon occurrence of an insured event, the cardholder will no longer be required to send us the partner’s declared place of residence, which may not coincide with the common place of residence;

in the Standard (for Nordea Credit or PINS credit card holders), Gold, Platinum and Business (for MasterCard Business credit card or MasterCard Business card holders) travel insurance policies its has been specified that trip cancellation coverage shall become invalid at the time, when the insured has started the trip, not checked in for the trip, since an insured event may also occur from the check-in time until the moment the customer initiates his/her flight.

The previous rules will apply for the travel insurance cases that occurred in 2016 and the purchase insurance rules made from 01.01.2017.